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  • #5,321
  • Apr 1, 2014 9:17am Apr 1, 2014 9:17am
Quoting forex1016
It's really interesting to see that bad US data didn;t shoot gold up welll price just went below 1283 as expected. first target level will be daily S1 at 1278. 2nd target will be S2 at 1272
its not actually bad since its up from the previous month but i c ur point it did fall short of expectations.
  • #5,322
  • Apr 1, 2014 9:17am Apr 1, 2014 9:17am
lOOk this
Attached Image
One Day U Will Miss me!
  • #5,323
  • Apr 1, 2014 9:19am Apr 1, 2014 9:19am
Quoting aliqazi
lOOk this {image}
GOOD
  • #5,324
  • Apr 1, 2014 9:21am Apr 1, 2014 9:21am
Quoting forex1016
It's really interesting to see that bad US data didn;t shoot gold up welll price just went below 1283 as expected. first target level will be daily S1 at 1278. 2nd target will be S2 at 1272
Because last 2 days crowd was buying. Crowd should be slaughtered.
  • #5,325
  • Apr 1, 2014 9:21am Apr 1, 2014 9:21am
Quoting ClockTrader
Thanks Nitsan for being around. Hope you can see how much people like you and miss you here :-) PS: I mitigated risk from my test longs. It needs to breach 1290 for longs to look good. Right now 1290 looks like a uphill task. {quote}
> PS: I mitigated risk from my test longs

Event though these were test longs, yet, made a good decision by mitigating the risk! Still awaiting this to bottom out. Taking forever.

Quoting Super_Mario
{quote} GOOD
Glad to see you around mate, been quite a long time.
Hello World!
  • #5,326
  • Apr 1, 2014 9:22am Apr 1, 2014 9:22am
1277 needs to have a continuation to form a new base so it can be used as S>R. It may stall there but before NY close if 1282 holds there maybe a lower low to base PA on.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1HR.png Size: 104 KB
To live a successful life, we must lose our fear of being wrong
  • #5,327
  • Apr 1, 2014 9:23am Apr 1, 2014 9:23am
priced in. 1st april. enough said.
A trade should be based on an assumption based on facts
  • #5,328
  • Apr 1, 2014 9:24am Apr 1, 2014 9:24am
So.. which rate should we start buying at then please ?
  • #5,329
  • Apr 1, 2014 9:25am Apr 1, 2014 9:25am
1267 is on.
A trade should be based on an assumption based on facts
  • #5,330
  • Apr 1, 2014 9:25am Apr 1, 2014 9:25am
Quoting ClockTrader
Glad to see you around mate, been quite a long time.
Wow, hi !
Nothing to do here while it's falling because I never short Gold...
Been keeping an eye though but when bears push Gold down it's always bloody massacre for bulls, so dont want to escalate things by my dummy opinions.
  • #5,331
  • Apr 1, 2014 9:28am Apr 1, 2014 9:28am
Quoting ThePolarFox
So.. which rate should we start buying at then please ?
If your looking for an early price to start "building" your long portfolio, you can start wherever you think PA is stalling, however if you are looking for confirmation, you will need to wait until there has been a daily support candle formed (purely based on PA - my trading style). You'll get in late but you'll also have less risk.

At present we are still currently trading within a range so until we haven't broken through 1277 and formed a new close lower then it is still just consolidating within the current trends range.
To live a successful life, we must lose our fear of being wrong
  • #5,332
  • Apr 1, 2014 9:29am Apr 1, 2014 9:29am
Quoting ThePolarFox
So.. which rate should we start buying at then please ?
What happened on todays asian session was VERY similar to what was happening last 2 times Gold prices changed direction. So from one side it's ALREADY time to add some lots to longs, but....
The problem is that what FOLLOWED asian session was NOT what was happening. So I might agree we are going one more step down, as mentioned by Mave - 1266-1267.. However there might be explanation why todays EU/US session is so slow and we finally get a rocket from 1280s.
In any case im not adding longs right now.
  • #5,333
  • Apr 1, 2014 9:31am Apr 1, 2014 9:31am
Yes I would like to build a buy for a long till it reaches next high, I don't have enough in my current portofolio to just buy now and take the risk that it drops to 1250, so no matter it i'll be a few pips late as long as I actually will make profit to then grow my fund
  • #5,334
  • Apr 1, 2014 9:36am Apr 1, 2014 9:36am
Quoting Super_Mario
{quote} What happened on todays asian session was VERY similar to what was happening last 2 times Gold prices changed direction. So from one side it's ALREADY time to add some lots to longs, but.... The problem is that what FOLLOWED asian session was NOT what was happening. So I might agree we are going one more step down, as mentioned by Mave - 1266-1267.. However there might be explanation why todays EU/US session is so slow and we finally get a rocket from 1280s. In any case im not adding longs right now.
The current mid term trend is short. When the trend (correction) reversed from the years high, the move was quite sharp(ish) and was falling quite a few $ on a daily basis. This is still the case however the speed of the move is now slower, almost boring at the pace it is moving, but regardless, it is still moving and it is moving down. I am not here telling anyone it is going to drop further or rise from here onwards, I am only explaining what I can see on the charts in my perspective.

The one thing you can't disagree with in trading is PA. And since the highs, it has been turning most supports into resistances, and continues to do so. Until otherwise, the down move is still in play. However painfully slow it may become.
To live a successful life, we must lose our fear of being wrong
  • #5,335
  • Apr 1, 2014 9:41am Apr 1, 2014 9:41am
Possibility if IR holds
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 5M.png Size: 86 KB
To live a successful life, we must lose our fear of being wrong
  • #5,336
  • Apr 1, 2014 9:42am Apr 1, 2014 9:42am
Quoting Super_Mario
{quote} Wow, hi ! Nothing to do here while it's falling because I never short Gold... Been keeping an eye though but when bears push Gold down it's always bloody massacre for bulls, so dont want to escalate things by my dummy opinions.
On a broad level and for a very long term, its great to side with the Bulls. I expect market to remain very challenging for investors until late June.

Quoting ClockTrader
{quote} > PS: I mitigated risk from my test longs Event though these were test longs, yet, made a good decision by mitigating the risk! Still awaiting this to bottom out. Taking forever. {quote} Glad to see you around mate, been quite a long time.
I am loving the current volatility. Can't explain and can't share my day trades based on key hrs. But, I can share the fact that I'm loving it
Hello World!
  • #5,337
  • Apr 1, 2014 9:45am Apr 1, 2014 9:45am
1280 is strong support on this move
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 5M.png Size: 88 KB
To live a successful life, we must lose our fear of being wrong
  • #5,338
  • Apr 1, 2014 9:48am Apr 1, 2014 9:48am
Quoting EatPIPs
Possibility if IR holds {image}
Hi EatPips, how do you trade gold with FXCM, I don't see this metal at the chart menu.
  • #5,339
  • Apr 1, 2014 9:49am Apr 1, 2014 9:49am
Quoting EatPIPs
1280 is strong support on this move {image}
Excellent analysis !

Cheers.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #5,340
  • Apr 1, 2014 9:50am Apr 1, 2014 9:50am
Quoting EatPIPs
{quote} The current mid term trend is short. When the trend (correction) reversed from the years high, the move was quite sharp(ish) and was falling quite a few $ on a daily basis. This is still the case however the speed of the move is now slower, almost boring at the pace it is moving, but regardless, it is still moving and it is moving down. I am not here telling anyone it is going to drop further or rise from here onwards, I am only explaining what I can see on the charts in my perspective. The one thing you can't disagree with in trading is...
While the whole thing can be discussed further, right now I cannot and will not disagree with you.
Supports turning into resistances, MAs, FIBOs and the rest of "setups and patters" - bears cared for nothing.
I cannot even exclude the possibility of going lower than 1180.
Unfortunately, unlike other commodities, Gold market is way more speculative instrument, not relaying solely (or mostly) on physical supply/demand.
This means we all are puppets in the show of big guys.
And only filtering/understanding few patterns, which the Puppeteers cannot physically hide when they prepare for the show could add some monies to account with relatively small risk.
Just my 2 cents.
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